Ubiquiti Networks (NASDAQ:UBNT) was downgraded by ValuEngine from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.
Several other research analysts have also recently issued reports on the company. Zacks Investment Research upgraded Ubiquiti Networks from a “hold” rating to a “buy” rating and set a $82.00 price objective for the company in a research note on Friday, January 12th. TheStreet cut Ubiquiti Networks from an “a” rating to a “c+” rating in a research note on Friday, February 9th. Deutsche Bank raised their price objective on Ubiquiti Networks from $47.00 to $55.00 and gave the stock a “hold” rating in a research note on Friday, February 9th. BMO Capital Markets reduced their price objective on Ubiquiti Networks from $66.00 to $60.00 and set a “positive” rating for the company in a research note on Friday, November 10th. Finally, BidaskClub upgraded Ubiquiti Networks from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, December 19th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and one has given a strong buy rating to the company’s stock. Ubiquiti Networks has a consensus rating of “Hold” and a consensus price target of $65.75.
Shares of Ubiquiti Networks (UBNT) traded down $18.76 during trading hours on Tuesday, hitting $55.28. The stock had a trading volume of 5,487,157 shares, compared to its average volume of 387,133. Ubiquiti Networks has a 1 year low of $45.71 and a 1 year high of $82.30. The stock has a market capitalization of $4,300.00, a PE ratio of 17.33, a price-to-earnings-growth ratio of 2.07 and a beta of 0.58. The company has a debt-to-equity ratio of 0.95, a quick ratio of 10.00 and a current ratio of 10.94.
Ubiquiti Networks (NASDAQ:UBNT) last announced its quarterly earnings data on Thursday, February 8th. The Wireless communications provider reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.70 by $0.06. Ubiquiti Networks had a return on equity of 47.42% and a net margin of 15.73%. The firm had revenue of $250.80 million during the quarter, compared to analysts’ expectations of $239.89 million. During the same period last year, the business posted $0.72 earnings per share. The company’s revenue for the quarter was up 17.5% compared to the same quarter last year. research analysts expect that Ubiquiti Networks will post 1.93 EPS for the current fiscal year.
Ubiquiti Networks declared that its Board of Directors has authorized a stock repurchase plan on Thursday, November 9th that authorizes the company to buyback $50.00 million in shares. This buyback authorization authorizes the Wireless communications provider to purchase shares of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s management believes its shares are undervalued.
A number of hedge funds have recently made changes to their positions in UBNT. PNC Financial Services Group Inc. raised its position in Ubiquiti Networks by 4.3% during the second quarter. PNC Financial Services Group Inc. now owns 1,958 shares of the Wireless communications provider’s stock valued at $102,000 after acquiring an additional 80 shares in the last quarter. Public Employees Retirement Association of Colorado purchased a new position in Ubiquiti Networks during the fourth quarter valued at approximately $104,000. Gilder Gagnon Howe & Co. LLC purchased a new position in Ubiquiti Networks during the third quarter valued at approximately $178,000. Brown Advisory Inc. purchased a new position in Ubiquiti Networks during the third quarter valued at approximately $211,000. Finally, Amalgamated Bank purchased a new position in Ubiquiti Networks during the fourth quarter valued at approximately $216,000. Institutional investors own 32.06% of the company’s stock.
About Ubiquiti Networks
Ubiquiti Networks, Inc develops performance networking technology for service providers and enterprises. The Company offers a portfolio of networking products and solutions. Its service provider product platforms provide carrier-class network infrastructure for fixed wireless broadband, wireless backhaul systems and routing.
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